Volvo Cars reports 8 per cent sales growth in November
Volvo Cars’ global sales continued to grow in November and reached a total of 63,682 cars, up 8 per cent compared to the same month last year.
During the January-November period, Volvo Cars sold 632,701 cars globally which is a 17 per cent increase compared to the same period in 2022.
The share of Volvo Cars’ Recharge line-up of chargeable Volvo models ended at 36 per cent during the month of November. Recharge is the overarching brand name for all chargeable Volvo models with a fully electric or plug-in hybrid powertrain. Sales of fully electric cars stood for 16 per cent of all Volvo cars sold globally.
European sales for November reached 26,407 cars, an increase of 2 per cent compared to the same period last year. The number of Recharge cars sold in the region came to 14 653 cars, which comprised 55 per cent of all cars sold in Europe in November.
Volvo Cars’ US sales amounted to 11,671 cars, up 26 per cent compared to the same month last year. Sales of Recharge cars grew 10 per cent and accounted for 26 per cent of all cars sold in US during November.
Sales in China grew 21 per cent during the month compared to November 2022 and reached a total of 15,178 sold cars. The number of Recharge models sold in China increased 21 per cent compared to the same period last year.
In November, the Volvo XC60 was the top-selling model with sales reaching 22,317 (2022: 15,586), followed by the XC40, with total sales at 16,672 cars (2022: 18,188 units), and XC90 at 9,860 cars (2022: 8,283 units).
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November |
November |
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Jan-Nov |
Jan-Nov |
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2023 |
2022 |
Change |
2023 |
2022 |
Change |
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Europe |
26,407 |
25,960 |
2% |
260,068 |
214,006 |
22% |
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Recharge |
14,653 |
17,452 |
-16% |
153,642 |
113,053 |
36% |
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- Fully electric |
6,781 |
8,365 |
-19% |
59,775 |
26,746 |
123% |
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- Plug-in hybrid |
7,872 |
9,087 |
-13% |
66,556 |
35,111 |
90% |
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China |
15,178 |
12,580 |
21% |
154,147 |
145,372 |
6% |
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Recharge |
1,343 |
1,114 |
21% |
13,641 |
10,282 |
33% |
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- Fully electric |
264 |
197 |
34% |
3,032 |
2,222 |
36% |
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- Plug-in hybrid |
1,079 |
917 |
18% |
10,609 |
8,060 |
32% |
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US |
11,671 |
9,233 |
26% |
115,092 |
90,927 |
27% |
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Recharge |
3,038 |
2,764 |
10% |
32,425 |
24,707 |
31% |
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- Fully electric |
840 |
1,076 |
-22% |
12,923 |
6,176 |
109% |
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- Plug-in hybrid |
2,198 |
1,688 |
30% |
19,502 |
18,531 |
5% |
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Other |
10,426 |
11,381 |
-8% |
103,394 |
92,153 |
12% |
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Recharge |
3,914 |
3,624 |
8% |
37,811 |
25,484 |
48% |
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- Fully electric |
2,146 |
2,006 |
7% |
18,638 |
8,652 |
115% |
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- Plug-in hybrid |
1,768 |
1,618 |
9% |
19,173 |
16,832 |
14% |
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Total |
63,682 |
59,154 |
8% |
632,701 |
542,458 |
17% |
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Recharge |
22,948 |
24,954 |
-8% |
237,519 |
173,526 |
37% |
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- Fully electric |
10,031 |
11,644 |
-14% |
94,368 |
43,796 |
115% |
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- Plug-in hybrid |
12,917 |
13,310 |
-3% |
115,840 |
78,534 |
48% |
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For further information please contact:
Volvo Cars Media Relations
+46 31-59 65 25
media@volvocars.com
Volvo Cars Investor Relations
John Hernander
+46 31-793 94 00
investors@volvocars.com
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Volvo Cars in 2022
For the full year 2022, Volvo Car Group recorded an operating profit of SEK 22.3 billion. Revenue in 2022 amounted to SEK 330.1 billion, while global sales reached 615,121 cars.
About Volvo Car Group
Volvo Cars was founded in 1927. Today, it is one of the most well-known and respected car brands in the world with sales to customers in more than 100 countries. Volvo Cars is listed on the Nasdaq Stockholm exchange, where it is traded under the ticker "VOLCAR B".
"For life. To give people the freedom to move in a personal, sustainable and safe way." This purpose is reflected in Volvo Cars' ambition to become a fully electric car maker by 2030 and in its commitment to an ongoing reduction of its carbon footprint, with the ambition to be a climate-neutral company by 2040.
As of December 2022, Volvo Cars employed approximately 43,200 full-time employees. Volvo Cars' head office, product development, marketing and administration functions are mainly located in Gothenburg, Sweden. Volvo Cars' production plants are located in Gothenburg, Ghent (Belgium), South Carolina (US), Chengdu, Daqing and Taizhou (China). The company also has R&D and design centres in Gothenburg, Camarillo (US) and Shanghai (China).